DirecTV Q2 Earnings Fall Short on Weaker Latin American Market

Revenue and earnings per share climb, but operating profits decrease.

DirecTV missed Wall Street's projections on Thursday, posting second quarter revenues of $7.70 billion and earnings per share of $1.18. The satellite television behemoth cited overall weakness in its Latin American operations as the reason for its disappointing results.

Analysts projected that the company would see its revenue hit $7.76 billion while posting earnings of $1.29 per share.

DirecTV's foreign expansion hit a setback. The company only attracted 165,000 new Latin American subscribers, but that fell far short of the 426,500 subscribers Bloomberg reports analysts had expected.

Shares of the company plunged 5.58 percent to $59.75 in pre-market trading.

Despite the bad reception, the company's revenue numbers represented a 7 percent increase from the same quarter last year and its earnings were an 8 percent bump from the year-ago period.

Operating profit at the company fell 4 percent to $1.35 billion.

"While macro-economic and operational challenges in Latin America impacted our results, particularly in Brazil, contributions from successfully executing on DirecTV U.S.' long term strategic imperatives combined with our share repurchase program drove solid revenue, earnings per share and free cash flow in the quarter," Mike White, president and CEO of DirecTV, said in a statement.

The news came just a day after DirecTV's rival Comcast roundly beat expectations, seeing its revenues jump 7 percent and its earnings climb 30 percent.